It isn't so much the CGT that's the problem. The rate is altered frequently to be more fair & progressive...and back again. But it is the only tax that the person paying the tax chooses when to pay it. If you're well off, you can wait and wait until the CGT is low, then do a transaction that triggers the payment.
If you're climbing the economic ladder, though, you have to pay it whenever market forces demand that you do.
If, OTOH, the CGT were either locked into a rate for- say...20 years at a time?- or it had a progressive structure like income taxes (or both)- there wouldn't be game playing like that.
If you're climbing the economic ladder, though, you have to pay it whenever market forces demand that you do.
If, OTOH, the CGT were either locked into a rate for- say...20 years at a time?- or it had a progressive structure like income taxes (or both)- there wouldn't be game playing like that.